By Howard Schneider and Leika Kihara
WASHINGTON - The leaders of the world's top central banks who risked trillions of dollars and their reputations to rescue the global economy are now set to walk off stage at a time when the lingering effects of the crisis, evolving technology and a combustible political landscape will challenge their successors.
LONDON - China has built its crude oil stockpiles at a record pace in 2017 and while its purchases could tail off towards the year-end, inventories could hit the billion-barrel mark in six months, the International Energy Agency said.
China has spent around $24 billion on building its crude reserves since 2015, at an average of $50 a barrel, and now holds around
By Dan Levine
SAN FRANCISCO - Alphabet Inc's Waymo sought at least $1 billion in damages and a public apology from Uber Technologies Inc as conditions for settling its high-profile trade secret lawsuit against the ride-services company, sources familiar with the proposal told Reuters.
The Waymo self-driving car unit also asked that an independent mo
By Yuka Obayashi
TOKYO - Kobe Steel's CEO said on Thursday the firm's data-fabrication may have spread beyond Japan, as he was ordered by the government to report on how the misconduct occurred and address safety concerns that have sparked a scare along global supply chains.
Hiroya Kawasaki told reporters the cheating scandal has left Kobe Steel
U.S. industrial conglomerate General Electric Co said on Friday it promoted Jamie Miller, who has been the head of its transportation unit, to chief financial officer, replacing Jeffrey Bornstein.
The change is the latest since John Flannery took over as company CEO on Aug. 1. Flannery earlier this week was named GE's chairman of the board, three months ahead of schedule, af
By Marc Jones
LONDON - World shares returned to a record high on Monday, on relief that hurricane Irma looked to be losing strength in the United States and that North Korea's anniversary celebrations at the weekend passed without any new missile test.
MSCI All Country World Index, which tracks roughly 2,400 stocks in 47 countries, climbed a new pe
By Patrick Graham
LONDON - Stock markets fell and the yen, gold and sovereign bonds rose on Monday as North Korea's most powerful nuclear test provoked a knee-jerk shift to safe havens.
Sunday's test, and reports from Seoul that Pyongyang was making preparations for another missile launch, sparked another warning from Washington and drove South
By Paul Sandle
LONDON, - The opposition Labour Party says it would keep Britain in the European single market and customs union for a transitional period after Brexit, offering a clear alternative to the policies of Prime Minister Theresa May.
The centre-left party would seek to maintain the "same basic terms" with the European Union, includi
LONDON - Britain will urge the European Union on Monday to show "imagination" in Brexit talks and help focus discussion on future ties rather than on a divorce settlement.
Brexit minister David Davis will call on the EU to be more flexible in its approach at the start of negotiations with the bloc's chief negotiator Michel Barnier on Monday -- the
SAO PAULO - India's largest power transmission company Sterlite Power Grid Ventures Ltd will invest around $1 billion per year in the next few years to build power lines in Brazil, a source with direct knowledge of the plan told Reuters on Wednesday.
The source, who asked not to be named because he is not authorized to speak publicly about the plan, sa
BEIJING - China's exports and imports grew more slowly than expected in July, raising concerns over whether global demand is starting to cool even as major Western central banks consider scaling back their massive stimulus programmes.
China and Europe have been driving an increasing share of global growth this year as political conflict stymies stimulus poli
By John Geddie
LONDON - World stocks breached record highs on Monday as better-than-expected company earnings and economic data from the United States stole the focus from rising geopolitical tension over North Korea's nuclear programme.
The U.S. dollar dipped slightly but held on to most of Friday's gains - its biggest daily rise this year - made af
SHANGHAI - China's banking regulator will tighten control over risks in the financial markets, work more closely with the central bank and other regulators, and "resolutely follow" the leadership of a newly-formed financial stability committee, it said late on Monday.
The China Banking Regulatory Commission's comments come after President Xi Ji
JPMorgan Chase & Co, the biggest U.S. bank by assets, reported a 13.4 percent increase in quarterly profit on Friday as gains from higher interest rates more than offset a drop in bond trading.
The bank's net income rose to $7.03 billion in the second quarter ended June 30 from $6.20 billion a year earlier. Earnings per share rose to $1.82 from $1.55.
By Shinichi Saoshiro
TOKYO - The dollar trod water against a group of peers early on Friday, as currency investors remained cautious ahead of U.S. inflation data due later in the session, which is expected to set the greenback's near-term direction.
The U.S. currency's recent advance, notably against the yen, has stalled towards the end of this week
ISTANBUL - A joint meeting of OPEC and non-OPEC nations in Russia later this month will only discuss the oil market but will take no decisions, Algerian Energy Minister Mustapha Guitouni said on Wednesday.
"The (global oil output cut) decision had already been taken until March 2018," he said during an international energy forum. "Algeria's current